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Fix-n-Flip Business Plan

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Fix-and-Flip Pros

Value Proposition

Fix-and-Flip Pros offers quality, remodeled residential properties to homebuyers. By revitalizing underperforming properties, we provide move-in-ready homes that combine modern comfort with unique, existing architectural features.

The Problem

In many areas, the housing market has a significant amount of outdated or neglected properties. For many potential homebuyers, the prospect of renovating these properties themselves is daunting, both in terms of time and cost.

The Solution

Fix-and-Flip Pros addresses this problem by purchasing underperforming properties, conducting high-quality renovations, and then selling these homes to buyers who desire move-in-ready properties.

Target Market

Our primary target market is the pool of homebuyers who are looking for quality, renovated, move-in-ready homes. This includes first-time buyers, people relocating, and investors looking for rental properties.

Competitors & Differentiation

Current Alternatives

  • Other fix-and-flip property developers
  • New construction homes
  • Private sellers offering as-is properties

Why Us?

Fix-and-Flip Pros stands out due to our focus on quality renovations and excellent customer service. We provide transparency in our renovation process, ensuring potential buyers are aware of the improvements made, and we strive to retain the unique character of each property.

Funding Needs

Funding needs are based on the initial acquisition of properties for renovation, renovation costs, carrying costs, and marketing expenses. The exact figures will depend on the number and type of properties targeted.

Sales Channels

  • Real Estate Agencies
  • Online Real Estate Marketplaces
  • Open House Events
  • Networking with Local Realtors

Marketing Activities

  • Professional Staging and Photography
  • Online Property Listings
  • Social Media Campaigns
  • Real Estate Networking Events

Financial Projections

The following figures are based on the assumption of acquiring, renovating, and selling five properties in the first year, with an average purchase price of $150,000, average renovation costs of $50,000 per property, and an average sale price of $250,000.

Revenue

2023: $1,250,000 (5 properties sold at an average sale price of $250,000)

2024: $1,375,000 (assuming a 10% increase in sale price)

2025: $1,512,500 (assuming a 10% increase in sale price)

Expenses/Costs

2023: $1,000,000 (5 properties purchased and renovated, $150,000 purchase price + $50,000 renovation per property)

2024: $1,100,000 (assuming a 10% increase in purchase and renovation costs)

2025: $1,210,000 (assuming a 10% increase in purchase and renovation costs)

Profit

2023: $250,000

2024: $275,000

2025: $302,500

Milestones

  • Establish business entity and obtain necessary permits and licenses
  • Identify and purchase first property
  • Complete first renovation project
  • Sell first renovated property
  • Identify and implement improvements for future flips based on the experience from the first flip
  • Establish relationships with key contractors and real estate professionals

Team and Key Roles

Owner/Operator

Oversees operations, including property acquisition, renovation plans, and sales strategies.

Project Manager

Coordinates renovation projects, liaises with contractors, and ensures projects stay on schedule and budget.

Real Estate Agent

Handles the marketing and sale of the properties, provides market insight, and identifies potential properties for future flips.

Partnerships & Resources

The purpose of these partnerships is to ensure the success of the fix-and-flip business while supporting local businesses and contributing to community revitalization.

Local Contractors

Working with reliable, local contractors ensures quality workmanship, timely renovations, and supports local business.

Real Estate Agents

Developing strong relationships with real estate agents provides access to potential properties and buyers, as well as valuable market insights.

Local Suppliers

Sourcing materials from local suppliers contributes to the local economy, can speed up renovation timelines, and can often provide cost savings.

Financial Institutions

Building relationships with local banks or other financial institutions can assist in securing necessary funding for property acquisition and renovation costs.